Airbus warns it ‘could quit UK if there is a no-deal Brexit’

Aerospace firm Airbus has warned it could pull out of the UK with the loss of thousands of jobs in the event of a “no-deal” Brexit.

The firm, which employs 14,000 people at 25 sites across the country, said it would “reconsider its investments in the UK, and its long-term footprint in the country” if Britain crashed out of the single market and customs union without a transition agreement.

Publishing a Brexit “risk assessment” on its website, the firm also called on the Government to extend the planned transition period due to run until December 2020 if a deal is agreed, saying it was too short for the business to reorganise its supply chain.

An Airbus Beluga plane, which transports wings from the UK (Dominic Lipinski/PA)

If there was no extension it would “carefully monitor any new investments in the UK and refrain from extending the UK suppliers/partners base”, it said.

In its risk assessment, Airbus says it is “getting increasingly concerned by the lack of progress on the Brexit process”.

It says it supports more than 110,000 jobs among 4,000 suppliers in the UK, with parts crossing the Channel “multiple times”.

This business relies on “frictionless trade” under customs union and single market rules, it added, saying “any change in customs procedures, logistics and environmental standards would have major industrial and cost impact”.

It went on: “A no-deal Brexit must be avoided, as it would force Airbus to reconsider its footprint in the country, its investments in the UK and at large its dependency on the UK.

An Airbus A380 on display at the Farnborough International Airshow in Hampshire (Andrew Matthews/PA)

“Given the ‘No-deal/hard Brexit’ uncertainties, the company’s dependence on and investment in the flagship Wing Of Tomorrow programme would also have to be revisited, and corresponding key competencies grown outside the UK.

“This extremely negative outcome for Airbus would be catastrophic.

“It would impair our ability to benefit from highly qualified British resources, it would also severely undermine UK efforts to keep a competitive and innovative aerospace industry, while developing high value jobs and competencies.”

Ireland has been selected as the location for a European funded testing site for offshore 'floating' wind farms, which are seen as a cheaper and more efficient way of generating renewable energy from wind.

Two former senior executives with the Quinn group are "very reluctant" witnesses in the action by Sean Quinn's adult children disputing any liability under guarantees for loans of more than €415m, the High Court has been told.